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Petra Ecclestone reportedly buys Spelling estate for $85 million

Petra Ecclestone, a 22-year-old British heiress, has reportedly bought Candy Spelling's Holmby Hills estate, the most expensive residential listing in the United States.

"The Manor," as the late TV producer Aaron Spelling's 56,500-square-foot home is known, has been on the market at $150 million for more than two years, according to reports Tuesday.

Though Candy had held firm on the asking price over the years, sources told TMZ the place went into escrow at $85 million. Now do we all believe housing prices have declined more steeply than during the Great Depression?

The daughter of British Formula One exec Bernie Ecclestone, whose worth is estimated at $4 billion, is a sometime fashion designer. The Spelling joint was reportedly her second-choice mansion, poor thing.

The house, which is larger than the White House and believed to have more than 100 rooms, has features including a bowling alley, a flower-cutting room, a wine cellar/tasting room, a barbershop and a silver storage room. Outside are a tennis court, a koi pond, gardens, a citrus orchard and a swimming pool with a pool house.

More than 100 vehicles can be accomodated in the motor court and 16 carports, and a service wing houses the staff in five maids' bedrooms and two butlers' suites, the Los Angeles Times reported in 2009.

Aaron Spelling -- executive producer on series including "The Love Boat," "Dynasty" and most recently "Charmed" -- died in June 2006. Daughter Tori Spelling and her brother Randy Spelling each inherited less than $1 million at the time from the estate, then estimated to be worth $300 million. Tori is now pregnant with her third child.

Ecclestone plans to split her time between L.A. and London, where she owns another mansion, according to the Guardian.